My afternoon train reads :

• You may want to ignore the ‘next big thing’ in mutual funds (MarketWatch)
• Brokers unable to escape their past (Investment News)
• Housing Sales Hurt as Fewer Immigrants Chase Owner Dream (Bloomberg)
• High Tech’s Secret Weapon: The Whiteboard (WSJ)
• It looks like Obamacare is working (Quartz) see also FDA clears motorized exoskeleton for (Circa)
• Meet a new potential hero in the fight against ‘superbugs’ (WSJ)
• Google Ventures’ Secret to Productive Meetings: A Timer (Businessweek)
• For Owners and Brokers, Web Rentals Upend the Hamptons Season (NY Times)
• The outrage is not so much over inequality but all the dubious ways the rich got richer (Quartz)
• Climate-change summary and update (Guy McPherson)

What are you reading?

 

The Staggering Rise of Mobile Computing

Source: Know More

 

Category: Financial Press

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

6 Responses to “10 Tuesday PM Reads”

  1. Robert M says:

    How is it that this canard is constantly repeated about the housing market as if it were knowledge let alone understanding of it?, “We are under-building compared to population growth,” homebuilding analyst Stephen Kim of Barclays wrote in a recent report.”
    Without the income/credit scores of past generations to buy why is it expected that the population of the age that in the past bought would buy now?
    http://www.businessweek.com/articles/2014-07-01/the-re-explosion-of-u-dot-s-dot-house-prices-is-over#r=hp-lst

  2. RW says:

    How I would defend inequality

    Defenders of inequality are doing a desperately poor job.

    For example, Tim Worstall’s claim that the tax and benefit system already does a lot of redistribution fails to engage with the argument that pre-tax inequality might be a bad thing.

    And Greg Mankiw’s claim that the rich deserve their fortune barely counts as an effort. …the more intelligent rightists, such as Hayek or Nozick, have acknowledged that the link between merit and income is weak.

    So, is it possible to defend inequality better? …

  3. rd says:

    I think the article about how the wealth was made is an important thought process.

    I don’t think Americans begrudge company founders etc. their wealth. Occupy Wall Street was not about dismantling Apple or Amazon. In the cases of Bill Gates etc., even the estate tax debate is essentially moot as he is giving his wealth away. However, it has never been clear to me that the decriers of the “death tax” have ever satisfactorily addressed the untaxed embedded capital gains issue in estates other than to simply argue that taxes should not ever occur on capital gains in any case because “they are job creators.”

    I think the big thing that came out of the 2008-2009 crisis was that well-connected people in the financial sector primarily were able to retain a lot of wealth because their companies and assets were bailed out with little or no penalty. Many of the large financial institutions were on the brink of ruin, and so were their employees and executives. Instead of losing everything or almost everything, the government and Fed stepped in “for the greater good” and bailed them out without nationalizing them. As a result, many of the people at the heart of the crisis are wealthier today than they were going in. In addition, many in the financial sector have been able to institutionalize highly favorable tax structures, like the carried interest exemption of fees, that turn ordinary income into capital gains at much better tax rates.

    Meanwhile, the financial sector has continued to push for maintaining high fees in 401ks and other areas while still being allowed to provide bad advice to the people who have few options but to buy those products. The health care industry is another one that extracts more of the GDP than it should in providing expensive services with few consumer options. I think both of these sectors are on the verge of major changes to reduce costs by a third or more but they are fighting the trend to the bitter end with all of the political clout they can buy.

  4. rd says:

    The state of employment in the US today:

    http://www.bloomberg.com/news/2014-06-30/vacation-phobic-americans-donate-a-million-years-of-work-annually.html

    http://www.bloomberg.com/news/2014-07-01/employers-crack-down-on-world-cup-streaming.html

    The employers are viewing the World Cup as “hundreds of millions of dollars of lost productivity” instead of a team-building exercise with a whole bunch of people socializing in a common room over fun soccer games.

    And if you take the vacation that they inform you that you have “earned”, you may come back and find another person sitting in your chair or your job out-sourced to India because clearly you were not necessary since you took time off.

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